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Monday, 24 November 2014

Not an Option, But a Necessity

In today's global, dynamic
economy, it is beneficial for companies to operate a supply chain that is both
Lean and agile. Using Lean and agile in combination is known as a hybrid supply
chain strategy.

A Lean supply chain focuses on
adding value for customers, while identifying and eliminating waste anything
that doesn't add that value. Being agile and responsive, on the other hand,
implies that your supply chain can handle unpredictability and a constant
stream of new, innovative products with speed and flexibility.

An agile supply chain must be
responsive to actual demand, and capable of using information as a substitute
(to some degree) for inventory through collaboration and integration with key
customers and suppliers.